Big Crypto Exchange Goes Bankrupt

Published by
The Street

By Luc Olinga The cryptocurrency industry is again overtaken by bankruptcies. Since March, the fledgling financial services industry, powered by Blockchain technology, thought that it had bankruptcies behind it. It was also the big winner of the problems of the traditional financial system, marked by the failure of three regional banks – Silicon Valley Bank, Signature Bank in New York and more recently First Republic Bank. Many unknowns remain about the soundness of the traditional banking system. But an event just reminded the crypto sphere that it is not immune, and that FTX’s problems were …

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